Overview Financials News + Filings Key Docs Charts Transactions Ownership Insiders
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| In millions, except per share items | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 |
| | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Revenues: |
| Real Estate | 1,312.1 | 1,178.0 | 1,172.9 | 779.1 | 687.2 | 755.4 | | |
| Investment Management | 19.4 | 31.3 | 59.9 | 106.6 | 161.1 | | 202.9 | 263.1 |
| Other | | | | | | 186.2 | 735.4 | 645.4 |
| Total revenues [+] | 1,331.5 | 1,209.3 | 1,232.8 | 885.7 | 848.3 | 941.5 | 938.4 | 908.4 |
| Management fees | | | | | | | 50.0 | |
| Reimbursements | | | | | | | 22.8 | 24.9 |
| Other real estate | | | | | | | 30.5 | 28.9 |
| Other | | | | | | | 25.1 | 17.8 |
| Revenue growth [+] | 10.1% | -1.9% | 39.2% | 4.4% | -9.9% | 0.3% | 3.3% | 85.5% |
| Real Estate | 11.4% | 0.4% | 50.5% | 13.4% | -9.0% | | | |
| Investment Management | -38.1% | -47.7% | -43.8% | -33.8% | | | -22.9% | 51.3% |
| Cost of goods sold [+] | 51.9 | 52.9 | 56.1 | 44.7 | 51.4 | 91.9 | 188.6 | 252.6 |
| Occupancy costs | 47.9 | 44.1 | 39.5 | 22.8 | 17.3 | 26.8 | 52.2 | |
| Reimbursable costs | | | | | | | 78.7 | 155.1 |
| Gross profit | 1,279.6 | 1,156.4 | 1,176.7 | 841.0 | 796.9 | 849.7 | 749.8 | 655.8 |
| Gross margin | 96.1% | 95.6% | 95.4% | 95.0% | 93.9% | 90.2% | 79.9% | 72.2% |
| Selling, general and administrative [+] | 81.9 | 76.0 | 75.3 | 68.3 | 70.9 | 82.4 | 103.2 | 91.6 |
| General and administrative | 81.9 | 76.0 | 75.3 | 68.3 | 70.9 | 82.4 | 103.2 | 91.6 |
| Equity in earnings | -10.8 | -18.6 | 23.2 | 61.5 | 64.8 | 64.7 | 51.0 | 44.1 |
| Other operating expenses | 65.1 | -25.4 | 101.4 | -49.2 | 68.1 | 28.5 | -21.1 | -107.4 |
| EBITDA [+] | 1,136.5 | 1,100.6 | 1,036.1 | 890.2 | 730.7 | 806.8 | 726.3 | 727.2 |
| EBITDA growth | 3.3% | 6.2% | 16.4% | 21.8% | -9.4% | 11.1% | -0.1% | 111.0% |
| EBITDA margin | 85.4% | 91.0% | 84.0% | 100.5% | 86.1% | 85.7% | 77.4% | 80.1% |
| Depreciation | 254.1 | 230.0 | 188.0 | 124.1 | 103.6 | 115.9 | 107.0 | 74.5 |
| EBITA | 882.4 | 870.6 | 848.1 | 766.1 | 627.1 | 690.9 | 619.3 | 652.7 |
| EBITA margin | 66.3% | 72.0% | 68.8% | 86.5% | 73.9% | 73.4% | 66.0% | 71.8% |
| Amortization of intangibles | 236.6 | 226.2 | 272.0 | 174.1 | 157.8 | 163.8 | 180.8 | 174.0 |
| EBIT [+] | 645.8 | 644.4 | 576.1 | 592.0 | 469.3 | 527.1 | 438.5 | 478.7 |
| EBIT growth | 0.2% | 11.9% | -2.7% | 26.1% | -11.0% | 20.2% | -8.4% | 134.2% |
| EBIT margin | 48.5% | 53.3% | 46.7% | 66.8% | 55.3% | 56.0% | 46.7% | 52.7% |
| Non-recurring items [+] | 24.2 | 35.8 | 32.5 | 4.8 | 12.1 | 71.2 | 29.9 | 57.5 |
| Asset impairment | 24.2 | 35.8 | 32.5 | 4.8 | 2.8 | 59.3 | 29.9 | 23.1 |
| Interest expense | 196.8 | 210.1 | 233.3 | 178.4 | 165.8 | 183.4 | 194.3 | 178.1 |
| Interest expense | 196.8 | 210.1 | 233.3 | 178.4 | 165.8 | 183.4 | 194.3 | 178.1 |
| Other income (expense), net [+] | 13.9 | 46.8 | 22.6 | 29.9 | -3.6 | 5.7 | 2.1 | -14.2 |
| Other | 13.9 | 46.8 | 22.6 | 29.9 | -3.6 | 5.7 | 2.1 | -14.2 |
| Pre-tax income | 438.6 | 445.2 | 332.8 | 438.8 | 287.8 | 278.1 | 216.4 | 228.8 |
| Income taxes | 28.5 | -20.8 | 26.2 | 14.4 | 2.7 | 3.3 | -37.6 | 17.6 |
| Tax rate | 6.5% | | 7.9% | 3.3% | 0.9% | 1.2% | | 7.7% |
| Minority interest | 0.1 | 10.6 | 1.3 | 12.8 | 7.8 | 7.1 | 13.0 | -6.4 |
| Earnings from continuing ops | 410.0 | 455.4 | 305.2 | 411.6 | 277.3 | 267.7 | 172.3 | 219.1 |
| Earnings from discontinued ops | | | | | | | | 33.3 |
| Net income | 410.0 | 455.4 | 305.2 | 411.6 | 277.3 | 267.7 | 172.3 | 252.5 |
| Net margin | 30.8% | 37.7% | 24.8% | 46.5% | 32.7% | 28.4% | 18.4% | 27.8% |
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| Basic EPS [+] | $2.25 | $2.61 | $1.79 | $3.50 | $2.57 | $2.51 | $1.63 | $2.22 |
| Growth | -13.9% | 46.2% | -49.0% | 36.2% | 2.5% | 53.9% | -26.5% | 20.1% |
| Diluted EPS [+] | $2.24 | $2.60 | $1.78 | $3.50 | $2.57 | $2.50 | $1.62 | $2.20 |
| Growth | -14.0% | 46.2% | -49.0% | 36.2% | 2.6% | 54.6% | -26.3% | 20.6% |
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| Dividends per share [+] | $4.21 | $4.17 | $4.14 | $4.09 | $4.01 | $3.93 | $3.83 | $3.69 |
| Growth | 0.8% | 0.8% | 1.2% | 2.0% | 2.1% | 2.7% | 3.8% | 8.7% |
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| Shares outstanding (basic) [+] | 182.5 | 174.5 | 171.0 | 117.5 | 107.8 | 106.7 | 105.7 | 98.8 |
| Growth | 4.6% | 2.0% | 45.5% | 9.0% | 1.0% | 1.0% | 7.0% | 43.8% |
| Shares outstanding (diluted) [+] | 183.1 | 174.8 | 171.3 | 117.7 | 108.0 | 107.1 | 106.5 | 99.8 |
| Growth | 4.7% | 2.1% | 45.5% | 9.0% | 0.9% | 0.5% | 6.7% | 43.2% |
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| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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